Beer Market size in US to grow by USD 24.15 billion from 2022 to 2027, Technavio
NEW YORK, March 22, 2024 /PRNewswire/ -- The beer market in US is set to witness a significant surge in the coming years, according to a recent report forecasting its growth from 2023 to 2027. The report suggests that the market size is estimated to increase by a whopping USD 24.15 billion during this period, with a forecasted Compound Annual Growth Rate (CAGR) of 4.12%.
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Several factors are driving this growth, including the rising demand for premium beers, the expansion of online retail channels, and the growing reliance on technology. Craft beer and microbreweries, in particular, are experiencing a surge in popularity as they offer unique and innovative flavors to consumers, catering to evolving preferences.
One of the key drivers of this growth is the increasing popularity of online sales channels. The rise of e-commerce platforms has revolutionized the sales and marketing landscape for alcoholic beverages, providing consumers with greater accessibility and convenience. Online platforms like Minibar, Drizly, and Liquor Mart Inc. have gained traction by offering a diverse range of bottled and craft alcohol products, enhancing consumer experience and engagement.
Moreover, the trend towards low-alcohol and alcohol-free beer options is gaining momentum, driven by health-conscious consumers seeking alternatives with lower alcohol content. Major breweries are responding to this trend by introducing light varieties to appeal to millennial consumers, further driving market growth.
To understand more about this market- The Free sample report is available in PDF format
Despite these promising trends, the market faces challenges such as the burgeoning growth of legal recreational cannabis and the abundance of substitute products competing with beer. However, the report suggests that strategic alliances, partnerships, and mergers and acquisitions among market players are helping to mitigate these challenges and enhance market presence.
Key players in the US beer market include industry giants like Anheuser Busch InBev SA NV, Asahi Group Holdings Ltd., and Constellation Brands Inc. These companies are implementing various strategies to enhance their presence in the market, including geographical expansion and product/service launches.
The report provides a comprehensive analysis of the market dynamics, customer landscape, and segmentation by product and distribution channel. It forecasts market growth by revenue at global, regional, and country levels, along with an analysis of the latest trends and growth opportunities from 2017 to 2027.
To understand more about this market- The Free sample report is available in PDF format
Analyst Review
The US beer market stands as a beacon of innovation and adaptability amidst dynamic global landscapes. Government tactics, consumer preferences, and market dynamics intersect to shape an industry that continually redefines itself, catering to a diverse array of tastes and preferences.
In the realm of alcohol sales, bars, pubs, restaurants, nightclubs, retail stores, and online platforms serve as pivotal touchpoints for consumers to explore an extensive array of beer options. From the sleek packaging of glass bottles to the convenience of cans, macro breweries such as Anheuser-Busch InBev, China Resources Snow Breweries, Heineken, and Carlsberg Breweries A/S leverage diverse distribution channels to reach consumers both on-trade and off-trade.
The advent of emerging markets offers tantalizing opportunities for growth, with restaurants, bars, and nightclubs emerging as key avenues for beer consumption. However, the landscape isn't solely about beer; it also intertwines with wine and spirits, reflecting the multifaceted nature of alcoholic beverage consumption.
Mergers & acquisitions continue to shape the industry, fostering collaborations that amplify flavors and diversify offerings. Craft beer enthusiasts revel in the artisanal craftsmanship of ales, while revenue streams surge with a compound annual growth rate (CAGR) that underscores the market's robustness.
Amidst this kaleidoscope of possibilities, millennials emerge as a driving force, demanding authenticity, sustainability, and unique experiences. The charm of taprooms, adorned with eclectic décor and infused with local culture, resonates deeply with this demographic, fueling the ascendancy of small-scale breweries.
As the market evolves, ads and marketing strategies pivot to capture the essence of these shifting consumer dynamics. From highlighting heritage and tradition to embracing contemporary trends, breweries navigate this landscape with finesse, crafting narratives that resonate with audiences across generations.
In this journey of discovery and innovation, the US beer market remains an ever-evolving tapestry, where lager meets ale, and packaging choices reflect changing consumer sensibilities. With each sip, consumers embark on a journey that transcends borders and cultures, encapsulating the spirit of camaraderie and conviviality that defines the essence of beer.
To understand more about this market- The Free sample report is available in PDF format
Market Overview
In response to shifting consumer trends, the U.S. government employs various tactics to regulate alcohol sales, ensuring responsible consumption. Bars, pubs, restaurants, and nightclubs remain pivotal in the social fabric, offering diverse beer selections to patrons. Retail stores and online platforms also play a significant role, providing convenience and accessibility to consumers. Taprooms emerge as popular destinations, offering unique brews and immersive experiences. Strategic ads and marketing campaigns target millennials, a demographic driving the market with their penchant for craft beers. Lager maintains its prominence, capturing a substantial share of the global beer market. As the industry evolves, stakeholders adapt, ensuring the continued growth and innovation of America's beer landscape.
To understand more about this market- The Free sample report is available in PDF format
ToC:
1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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